REPEAT - Nabis Holdings Announces Initial Investment Into Washington State Including Established Extraction & Production Faci...
February 01 2019 - 7:30AM
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
Innovative Properties Inc. d/b/a Nabis Holdings (CSE:NAB; OTC:
INNPF, FRA:7IP) (“
Nabis” or the
“
Company”) is pleased to announce that it has
entered into a binding Letter of Intent (“LOI”) to purchase assets
from PDT Technologies LLC (“PDT”), including extraction &
production equipment and rights to lease the current production
facility in Port Townsend, WA. The LOI also includes licensing
rights to produce Chong’s Choice Brand CO2 Vape Cartridges, one of
the leading and most recognizable brands in the cannabis space. PDT
is currently evaluating additional product licensing opportunities
with the Chong’s Choice brand which would enable them to engage in
the manufacture, marketing and distribution of: indoor and outdoor
flower, pre-rolls, and other cannabis based products.
Chong’s Choice is a legendary brand in cannabis
space, as one-half of the legendary comedy duo Cheech & Chong.
Nabis believes this is an excellent addition to the lifestyle and
recreational aspect of the Company’s vertically integrated
investment portfolio. PDT has an already established production
facility to produce high grade concentrate cannabis. Assuming the
closing of this investment, Nabis plans to expand the existing
operations by constructing a new ISO designed extraction clean room
and GMP lab facility, with new highly specialized equipment,
including two new extraction lines, which could produce up to
20,500 KG of cannabis concentrate on an annual basis. The expansion
cost is expected to be approximately USD $3 million to Nabis, with
an expected completion date of six months after a signed definitive
agreement.
Washington State is a relatively mature state
with proven metrics, thus Nabis will be looking for additional
investments in the state along with many other limited license
states in the near term as part of the Company’s multi-state
cannabis investment strategy.
About Nabis Holdings Nabis Holdings is a
Canadian investment issuer that invests in high quality cash
flowing assets across multiple industries, including real property,
securities, cryptocurrency, and all aspects of the U.S. and
international cannabis sector. Led by two of the co-founders of MPX
Bioceutical (CSE:MPX), one of the largest takeovers in the U.S.
Cannabis space to date, the company has proven track record in
emerging markets to create significant shareholder value. The
Company is focused on investing across the entire vertically
integrated aspects of the space with a focus on revenue generation,
EBITDA and growth.
ON BEHALF OF THE BOARD OF
DIRECTORS
“Shay Shnet”
Shay ShnetCEO and Director
For inquiries, please contact 604-687-7130 or
email info@nabisholdings.com.
The CSE does not accept responsibility
for the adequacy or accuracy of this release.
All statements, other than statements of
historical fact, included herein are forward-looking statements
that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. The risks are without limitations:
that the acquisitions will be completed by the Company or completed
upon the terms disclosed; the price for cannabis and related
products will remain consistent and the consumer demand remains
strong; availability of financing to the Company to develop the
retail locations; retention of key employees and management;
changes in State and/or municipal regulations of retail operations
and changes in government regulations generally. Important factors
that could cause actual results to differ, materially from the
Company’s expectations are disclosed in the Company’s documents
filed from time to time with the Canadian Securities Exchange, the
British Columbia Securities Commission, the Ontario Securities
Commission and the Alberta Securities Commission.
National Australia Bank (NYSE:NAB)
Historical Stock Chart
From Jun 2024 to Jul 2024
National Australia Bank (NYSE:NAB)
Historical Stock Chart
From Jul 2023 to Jul 2024